VizeL

ha, I play options as gambling

if loyal3 allowed me to play options on it, I'd actually hold there

MasterCharge

I hope they get some of that Alibaba IPO.

cal1152

This is my first post and I'm new to MSing (couple of months), but not trading so I thought I would post. I trade currencies, stock indexes, and commodities. Haven't seen this posted here so I thought this would be in line with the thread.

There are only a few domiciled US brokers left because of the Dodd-Frank law which are available, but there are many outside of the US, which are available to non-resident US citizens and non-US citizens that allow account funding with cc. The limits are 10k per transaction up to 50k a month. When you make a withdrawal it goes to back to the original funding source, which could raise a flag, but there are ways around that also. I've always done wire transfers and never done a cc transaction, but 50k a month could be interesting for MS. Any thoughts?

cal1152

Edit: The maximum per month for cc is up to 10k a month. It's 50k a month using ACH.

"If you funded your account with a credit card or debit card, it is required to withdraw the principal amount (deposit amount) back to your credit card. The credit card issuer may take from five business days to one billing cycle (approximately thirty days) to post back to the credit or debit card used for funding. When requesting a withdrawal to a credit card, please consider if that card is closed, expired, or a different credit card number has been issued, to choose an alternative method of withdrawal. Returning funds to a closed account can cause a significant delay in receiving funds, and we cannot guarantee a time frame in which funds will be received if the requested withdrawal amount is initiated to a closed account."

TTnC4me

It would only be interesting for MS if not refunded to cc.

letopeto

How do you purchase $2500 of one stock using CC? I can only seem to put in a one-time purchase of $50, or only set a monthly recurring amount of only $50 for CC (even though the FAQ says the max limit is $2500 per stock). Is there any way I can purchase multiple $50 increment amounts using my credit card on the same day?

rrgg

You can't do it in one purchase any more. If you try placing 50 orders of $50 each your bank will probably decline the charge. Loyal3 will probably tell you to enter your bank info to make an ach transfer instead.

milehightcityguy84

I purchase the same 12 stocks each day. I've used both the Barlcay's Arrival and Citi Executive Platinum I started slowly, making 3-4 purchases per day and gradually worked my way up to 12. No issues to date and no fraudulent charge warnings from either. Been using Loyal3 for 4 months. I have never purchased more than $2,000 in a single stock per month. Just trying to stay under the radar with this.

SerialSerious

Way to sneak up on them like that - I bet they never saw it coming.

It's not the buying part that bothers them, genius. You could spend all day, every day buying every stock they offer and they would of course love it.

thehoodedidiot

false. I got a warning email before i ever sold a stock. I was buying 10+ stocks a day with credit card. I mixed some in with checking funding too. I think multiple use of a credit card in short period of time can raise a flag (considering thats the only thing i did)

rrgg

I think their FAQ or something on site recommends 10 or fewer buys in a single day.

Pecan Pie

darn it. didn't read the FAQ
just did 2 consecutive days of 20 stocks/day... will cool off now..

Wakinguptooearly

Has anyone heard anything/updates about www (dot) stockpile (dot) com?

sftravelninja

Curious, as an example can a person do $50 on KO stock today via CC. Then $50 on KO tomorrow, then $50 on KO the day after and so on and so forth? I only have an interest in about 5 stocks but would like to put in $50 a day every day or so in each.

Also I noted, I purchased a $50 stock and waited 30 min and looked like I could purchase the same stock for $50 but I didn't click submit since my account is new and I'm testing the waters first.

My final question, when a new IPO comes out, if I have $350 worth in stocks in my account (not cash from a bank account, but from current holdings), would I be able to trade into that IPO or would I need to deposit from my bank account.

Thanks, looking to have a little cheap fun to close the year. Some minor MS maybe but nothing crazy.

dboston1

You are certainly able to do a $50 purchase each day, but they may send you a message, especially if you're selling it off frequently.

Wrt IPOs, no, you must have a cash balance of $350. That said, there's no need to transfer from a bank. Sign up for the IPO and fund it with your credit card for $350. You can even back out of the IPO later if you want and then transfer the $350 to your bank.